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Murdochs agree to cap on Fox voting power

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Original article by Max Mason
The Australian Financial Review – Page: 21 : 8-Nov-19

The Murdoch Family Trust has agreed to limit its voting rights in the new Fox Corporation to 44 per cent, with the cap to apply in perpetuity or until the Murdochs sell out of the company. The limit will help to facilitate $US2 billion ($2.9 billion) worth of share buybacks that Fox announced as part of its latest quarterly results. The buyback will include a mix of Class A and Class B Fox shares, with Fox’s independent directors keen to increase the liquidity of its Class B shares.

CORPORATES
MURDOCH FAMILY TRUST, FOX CORPORATION

Ita Buttrose pulls ABC’s Q&A show over call to violence

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Original article by Matthew Denholm
The Australian – Page: Online : 8-Nov-19

ABC chairwoman Ita Buttrose says it will pull the 4 November edition of ‘Q&A’ from its platforms, following a number of complaints about the program. Panellists on the program appeared to advocate arson, violence and extrajudicial killings, and ABC MD David Anderson says it will investigate whether the program breached the ABC’s editorial standards. The Australian Communications & Media Authority has so far received 53 complaints about the program.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY

Nine CEO calls in Karl, at a cut price

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Original article by Nick Tabakoff
The Australian – Page: 1 & 8 : 7-Nov-19

Nine Entertainment Company CEO Hugh Marks has flagged the possibility of Karl Stefanovic returning as co-host of the "Today" breakfast show in 2020. Stefanovic remains contracted to Nine for another year, on an annual salary of more than $2m, having been sacked from "Today" in late 2018. However, Marks says Stefanovic would have to agree to a significant pay cut if he were to return to the show he co-hosted for 14 years. The ratings for "Today" recently fell to a record low of 155,000 across the five major capital cities.

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NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED

Melbourne Cup in turmoil as ratings and attendance plunge in 2019

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Original article by Roy Morgan
Media Update – Page: Online : 7-Nov-19

TV viewership of the Melbourne Cup has plunged in 2019, dropping by more than half-a-million viewers compared to 2018 (a drop of 28% in only one year) and down over 330,000 in Melbourne – the home of the race. In total 1.324 million Australians in the 5 Capital Cities tuned in to Network 10’s coverage of Australia’s most important horse race. Sydney viewing was down by over 100,000 and down by tens of thousands in Brisbane, Perth and Adelaide. As reported yesterday attendance at the Melbourne Cup was only 81,408, the lowest attendance for nearly a quarter of a century since 1995. In line with plunging attendance figures, TV viewership was down across the whole day including the Race, Presentation, Mounting Yard and other viewing segments. Attendance at the Melbourne Cup has now dropped for five years in a row and is a clear indicator of problems facing Australia’s Racing Industry which Roy Morgan shows has among the highest level of distrust of all sports.

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No market for new uranium mines: Cameco

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Original article by Nick Evans
The Australian – Page: 20 : 6-Nov-19

Canada-based Cameco will produce just nine million pounds of uranium in 2020; instead, the bulk of the uranium it supplies to customers will be sourced from the spot market. CEO Tim Gitzel says there is no economic case at present for the construction of new uranium mines, given the large amount of uranium that has been stockpiled. The spot price of uranium averaged $US25.68 a pound in the September quarter, which is well below the long-term price that is required for Cameco’s mines in Australia to be viable.

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CAMECO CORPORATION, BHP GROUP LIMITED – ASX BHP, ENERGY RESOURCES OF AUSTRALIA LIMITED – ASX ERA, PALADIN ENERGY LIMITED – ASX PDN, DEEP YELLOW LIMITED – ASX DYL

Tennis boss helped Seven win TV rights

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Original article by John Stensholt
The Australian – Page: 3 : 5-Nov-19

The Federal Court has commenced hearing a civil lawsuit against former Tennis Australia executives Harold Mitchell and Steve Healy. The Australian Securities & Investments Commission has made a number of allegations about the pair regarding the negotiations for a tennis broadcasting rights deal in 2012. Amongst other things, Mitchell is alleged to have provided the Seven Network with details of rival bids. The advertising industry veteran has denied the allegations.

CORPORATES
TENNIS AUSTRALIA, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Trust media on national security: Ita

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Original article by Sean Parnell
The Australian – Page: 5 : 5-Nov-19

ABC chair Ita Buttrose has urged Australians to support the media industry’s ‘Your Right to Know’ campaign. She has also stressed that the media can be trusted with regard to national security. Buttrose has called for legislative action to protect whistleblowers and public interest journalism, as well as an overhaul of Freedom of Information laws.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, AUSTRALIAN FEDERAL POLICE, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Cat’s plan for regional powerhouse

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Original article by Lilly Vitorovich, John Durie
The Australian Financial Review – Page: 17 & 28 : 31-Oct-19

The Australian Competition & Consumer Commission will scrutinise Seven West Media’s takeover bid for regional affiliate Prime Media Group, with a decision on the $64m deal to be made on 18 December. Meanwhile, Antony Catalano and Alex Waislitz have built a 10.26 per cent stake in Prime, which would prevent Seven from compulsorily acquiring the company. Catalano says the Seven deal is not in the best interests of regional media. Catalano has also revealed that he held merger talks with Prime Media earlier in 2019. Catalano and Waislitz recently bought Nine Entertainment’s regional newspapers.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN COMMUNITY MEDIA, FAIRFAX MEDIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, THORNEY INVESTMENT GROUP AUSTRALIA PTY LTD, SPHERIA ASSET MANAGEMENT PTY LTD, WA CHESS INVESTMENTS

Foxtel customers get the loyal treatment

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Original article by Lilly Vitorovich
The Australian – Page: 19 : 30-Oct-19

Subscribers who sign up to Foxtel’s new customer loyalty program will receive a range of exclusive offers. The Foxtel First loyalty scheme will reward customers based on the length of time they have been a subscriber. The launch of the customer loyalty program comes ahead of the impending entry of Disney+ and Apple TV+ into Australia’s streaming video market, where they will compete with established players such as Foxtel, Netflix and Stan.

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FOXTEL MANAGEMENT PTY LTD, DISNEY+, WALT DISNEY COMPANY, APPLE INCORPORATED, FOXTEL NOW, KAYO SPORTS, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD

ABC raid could scare off sources

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Original article by Hannah Wootton
The Australian Financial Review – Page: 4 : 30-Oct-19

The Federal Court has adjourned its hearing into the ABC’s legal challenge to the validity of a police raid on its Sydney headquarters in June. Matt Collins, SC, who is representing the public broadcaster, has told the court that whistleblowers will be reluctant to contact journalists if the Australian Federal Police’s search warrant is not overturned. Amongst other things, the ABC’s case is based on the implied freedom of political communication in the Constitution.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN FEDERAL POLICE, FEDERAL COURT OF AUSTRALIA